CUTISS AG raises CHF 1 Mio. in seed financing
Zurich, Switzerland, September 1st 2017 – CUTISS AG, a biotech company spin-off of the University of Zurich (UZH), focused on the development of personalized bioengineered skin graft products for the treatment of skin defects, announces the closing of a seed financing round of CHF 1 million. CUTISS’ lead product denovoSkin™ has successfully completed Phase I in pediatric patients and will initiate Phase II studies in Q3/2017. The funds raised with UZH Life Sciences Fund investor will be used to launch the development of the automation of the production process for denovoSkin™.
“The timing of this financing is perfect and puts CUTISS in a competitive position to efficiently continue development of its proprietary technologies and personalized medicine products.” said Dr. Daniela Marino, CEO and co-founder of CUTISS. “Launching of the scale-up activities represents a major milestone of our process development.” added Dr. Vincent Ronfard, CIO of CUTISS. “The automation project will bring GMP manufacturing to another level.” said Dr. Fabienne Hartmann, CTO and cofounder of CUTISS. “We believe in CUTISS’ innovative product denovoskin™ for treating patients suffering from skin defects,”, stated Anja König from the Novartis Venture Fund. CUTISS’ board of Directors is chaired by Prof. Dr. med. Martin Meuli, a Key Opinion Leader in surgery and skin tissue engineering. In conjunction with the financing, Anja König is joining the board with its other founding members Prof. Dr. Ernst Reichmann, who leads the Tissue Biology Research Unit at the University Children’s Hospital in Zurich where denovoSkin™ was developed, and Dr. Daniela Marino.